The 1099-Q should report Distribution Box 1) as well as the earnings (Box 2) and your basis (Box3).
If the 1099-Q is only reporting the account balance, you can compute the tax using the instructions below.
TurboTax does not do this calculation as most Form 1099-Q report Box 1, 2 and 3.
You might also want to contact the account administrator to get those figures.
"The taxable portion is the amount of the excess distribution that represents earnings that have accumulated tax free in the account. Figure the taxable portion for 2021 as shown in the following steps. 1. Multiply the total amount distributed by a fraction. The numerator (top part) is the basis (contributions not previously distributed) at the end of 2020, plus total contributions for 2021, and the denominator (bottom part) is the value (balance) of the account at the end of 2021 plus the amount distributed during 2021. 2. Subtract the amount figured in (1) from the total amount distributed during 2021. The result is the amount of earnings included in the distribution(s). 3. Multiply the amount of earnings figured in (2) by a fraction. The numerator (top part) is the adjusted qualified education expenses paid during 2021, and the denominator (bottom part) is the total amount distributed during 2021. 4. Subtract the amount figured in (3) from the amount figured in (2). The result is the amount the beneficiary must include in income."
IRS PUB 970
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